Second-quarter sales rose 20 percent to $852 million, the company said in a preliminary
earnings statement. Profit excluding some costs increased to 29
cents to 30 cents a share, from 23 cents a year earlier, it said.
Analysts surveyed by Thomson Financial, on average, had expected
profit of 30 cents a share on sales of $835.5 million.
“Their stent business is really the company’s business,”
Fisher said. “If you take that away, this is a single-digit
growth company.”
Boston Scientific said it’s gained 51 percent of the European
market for drug-coated stents. The medicine helps fight new
blockages in the artery. It’s still seeking approval in the United States,
where Johnson & Johnson sells a version called Cypher.
“We are investing what is required to be prepared for U.S.
leadership,” Tobin said in a statement.
Full-year sales will probably be $3.33 billion to $3.42
billion, Boston Scientific said. Analysts surveyed by Thomson
Financial, on average, forecast 2003 profit of $1.26 a share on
sales of $3.36 billion.
Bloomberg News
